The promoting agent of MyTVS, TVS Automobile Solutions, has already marked its presence in the eastern as well as western region of the country and is now banking on the pan-India approach before the year end.
R Srivatchan, TVS Automobile Solutions President told to PTI, “Our plan is to have 100 of our own workshops and 300 franchise workshops. That is the kind of expansion and for that we took finance from private equity capital of about Rs 78 crore.” He further continued, “We have to start having a presence in other geographies. It will be like having our own workshops in big markets and smaller markets will have franchise outlets, that is like hub and spoke model.”
Srivatchan further added, “While we go outside the market, we will harness the people who have local customer experience. We are going through the joint venture route to set up our own company outlets and in the all the JVs we will be majority shareholders. Now, we already have signed up two Joint Ventures. They have come into being.”
TVS Automobile Solutions, an arm of city-headquartered TVS and Sons, is presently engaged in offering after-market integrated service solutions. With 50 outlets and 29 service centres being into operations, the company is counted among the big players of the South India.
The service provider has maintained a Joint Venture (JV) with the Rajgarhia Group, a Kolkata-based company, through which it is presently working towards the expansion in the Eastern region. Srivatchan further stated that in Gujarat, the company has an alliance with ABC Bearings and has named the venture as ‘TVS Automobile Solutions Gujarat Private Limited’.
On the Gujarat’s perspective, he said, “The work for setting up first outlet in Gujarat is going on. The land is being scouted and investments are being made.” He further stated that if the attempt in Gujarat goes their way, the company will then make its foray to the central Indian region.
In a view that the abovementioned two ventures will reap great profits for the company and will also offer a good scope for expansion, the entity is now eyeing to set up a similar working trend in the national capital region. Srivatchan stated that if their business goes well in the Delhi NCR region, they then might enter the markets of Punjab, Haryana and Uttar Pradesh.
Adding to the league of JV, the organisation is also looking ahead to kick off their operations in Kolkata under another alliance. For the same, it has also established a new facility in the region. The venture between the two companies will be named as 'TVS Rajgarhia Automobile Solutions'.
Before the end of 2012, the company is eyeing to open the doors of seven new facilities in Gujarat and five in West Bengal. On this, Srivatchan said, “Business plans in both the cases have been confirmed. Board has approved those business.”
Srivatchan commented on company’s strategy for preferring eastern and western markets over Delhi NCR, and said, “There are a lot of people who had gone to Delhi and suffered. We want to be highly cautious unless it is sure (to give profits). We do not want to make any hasty entry.”
